First Foundation (FFWM) Cut to “C+” at TheStreet

TheStreet lowered shares of First Foundation (NASDAQ:FFWM) from a b rating to a c+ rating in a research note issued to investors on Friday.

Other equities research analysts have also issued reports about the stock. DA Davidson lifted their target price on shares of First Foundation from $22.00 to $24.00 and gave the company a buy rating in a research report on Monday, June 11th. BidaskClub raised shares of First Foundation from a hold rating to a buy rating in a research note on Tuesday, May 22nd. Sandler O’Neill downgraded shares of First Foundation from a buy rating to a hold rating and set a $21.50 price target on the stock. in a research note on Tuesday, July 31st. ValuEngine downgraded shares of First Foundation from a sell rating to a strong sell rating in a research note on Wednesday, August 1st. Finally, Zacks Investment Research raised shares of First Foundation from a strong sell rating to a hold rating in a research note on Tuesday, June 12th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $20.90.

Shares of First Foundation stock opened at $15.33 on Friday. First Foundation has a 1 year low of $14.95 and a 1 year high of $20.43. The company has a market cap of $680.61 million, a price-to-earnings ratio of 15.80, a P/E/G ratio of 2.14 and a beta of 0.59. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.13 and a quick ratio of 1.00.

First Foundation (NASDAQ:FFWM) last announced its earnings results on Monday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.06). First Foundation had a net margin of 12.87% and a return on equity of 9.51%. The company had revenue of $43.24 million for the quarter, compared to the consensus estimate of $45.38 million. equities research analysts predict that First Foundation will post 1.03 earnings per share for the current fiscal year.

In other First Foundation news, Director Jacob Sonenshine sold 12,500 shares of First Foundation stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $19.37, for a total transaction of $242,125.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Ulrich E. Keller, Jr. sold 10,000 shares of First Foundation stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $18.62, for a total transaction of $186,200.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at $372,400. The disclosure for this sale can be found here. Insiders have sold 62,500 shares of company stock worth $1,203,225 over the last three months. Insiders own 14.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. FMR LLC increased its stake in shares of First Foundation by 26.1% in the second quarter. FMR LLC now owns 3,968,414 shares of the bank’s stock worth $73,574,000 after buying an additional 820,394 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in shares of First Foundation in the first quarter worth $10,667,000. BlackRock Inc. increased its stake in shares of First Foundation by 21.8% in the second quarter. BlackRock Inc. now owns 1,974,768 shares of the bank’s stock worth $36,612,000 after buying an additional 353,161 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of First Foundation by 39.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,001,365 shares of the bank’s stock worth $18,566,000 after buying an additional 282,455 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of First Foundation by 130.1% in the second quarter. Wells Fargo & Company MN now owns 419,889 shares of the bank’s stock worth $7,785,000 after buying an additional 237,423 shares during the period. 53.35% of the stock is currently owned by hedge funds and other institutional investors.

First Foundation Company Profile

First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.

Featured Article: Investing in Dividend Stocks

Receive News & Ratings for First Foundation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Foundation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply